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WisdomTree rationalises European product range


ETF provider WisdomTree Europe, with USD21 billion under management, has announced that it is to finalise the integration of the original ETF Securities’ European commodity, currency and short-and-leveraged ETP business, and rename or close the rest of its product range.

The firm writes that in the coming months, the company will unify 224 products under one WisdomTree brand and close 192 duplicative or extraneous products across its product set. 
After this process is complete, WisdomTree will have 250 products available across commodities, equities, foreign exchange, fixed income and alternatives.

This rationalisation comes after its purchase of ETF Securities’ commodity, currency and short-and-leveraged ETP business in April 2018. The Boost ETP brand is also to be absorbed under the WisdomTree brand umbrella.

The products are expected to liquidate at the end of September and the renaming is planned to be completed at the same time.

Alexis Marinof, Head of WisdomTree Europe explains that 28 overlapping ETPs which are to be closed represent assets of USD150 million and largely sit in the short & leverage trading ETFs space, which are actively traded.

The firm is engaging with its clients and giving them two months to move to the overlapping product which offers the same exposure.

Marinof says: “It’s an exciting time for us, the final touch. We work very closely with our clients and want to respond to their needs by offering a strong product set and focusing on innovation.”

Pre-acquisition, WisdomTree examined the ETF Securities product range and found that the vast majority were not overlapping.

“It’s worked well for us because over the last few months we have seen a lot of flows in precious metals, particularly into gold, and that is one of the reasons why we wanted to make the acquisition so that we could be the key European market leader in the commodity markets,” Marinof says.

“We continue to have one of the most diversified ETP ranges in Europe with 250 products available across asset classes.”

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